Frank Rimerman Advisors LLC Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• Frank Rimerman Advisors LLC increased its holdings in Johnson & Johnson by 10.8% during the first quarter, now owning 39,832 shares valued at approximately $6.6 million.
• Johnson & Johnson reported a quarterly earnings per share of $2.77, exceeding estimates by $0.09, with revenues of $23.74 billion, reflecting a 5.8% year-over-year increase.
• The company declared a quarterly dividend of $1.30, translating to an annual yield of 3.0%, with a payout ratio of 55.61%.

Frank Rimerman Advisors LLC grew its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 10.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,832 shares of the company's stock after purchasing an additional 3,890 shares during the period. Johnson & Johnson comprises approximately 0.5% of Frank Rimerman Advisors LLC's holdings, making the stock its 27th largest holding. Frank Rimerman Advisors LLC's holdings in Johnson & Johnson were worth $6,606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Elios Financial Group Inc. increased its stake in Johnson & Johnson by 1.5% in the first quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock worth $746,000 after purchasing an additional 66 shares during the period. Atlantic Family Wealth LLC increased its stake in shares of Johnson & Johnson by 4.4% during the first quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock valued at $266,000 after buying an additional 67 shares during the period. MBA Advisors LLC increased its stake in shares of Johnson & Johnson by 1.2% during the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after buying an additional 68 shares during the period. Sovereign Financial Group Inc. increased its stake in shares of Johnson & Johnson by 1.8% during the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after buying an additional 69 shares during the period. Finally, Nabity Jensen Investment Management Inc increased its stake in shares of Johnson & Johnson by 1.5% during the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $173.40 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The company has a market cap of $417.61 billion, a PE ratio of 18.55, a P/E/G ratio of 2.18 and a beta of 0.41. The business has a 50-day simple moving average of $159.26 and a two-hundred day simple moving average of $157.44. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $173.96.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $2.82 earnings per share. As a group, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on JNJ. UBS Group raised their price target on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Barclays raised their price target on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Guggenheim restated a "neutral" rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Morgan Stanley raised their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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